ARTICLES LABELLED WITH TAG Poland

InPost has entrusted Prologis with the construction of a Build-To-Suit tailored warehouse and office facility with an area of ​​11,500 sqm in Prologis Park Ruda Śląska. InPost will move into the new DC3 building in September 2024. The transaction was brokered by Cushman & Wakefield.

Although the office development pipeline in Poland’s eight largest regional city markets is clearly shrinking, it is still above that for Warsaw, says BNP Paribas Real Estate Poland in its laterst report. Another notable development of the last quarter of 2023 was that the overall regional vacancy rate hit an all-time high by the end of December.

Following the outbreak of the Covid-19 pandemic in early 2020, the Polish investment market has consistently navigated its repercussions, only to face additional challenges from the economic turbulence resulting from the war in Ukraine, rising interest rates or inflation. Despite maintaining stable investment volumes for three tough years, 2023 witnessed an inevitable slowdown, says Avison Young.

The international manufacturer and distributor of furniture accessories, lighting and tools is expanding its footprint at MLP Pruszków II, the logistics centre near Poland’s capital city Warsaw. As a result of this move, GTV will occupy a total of over 47,200 sqm of space in the region’s largest warehouse complex. The handover of the additional 15,100 sqm facility is slated for the fourth quarter of this year. The transaction has been brokered through Axi Immo.

Sylvie Geuten-Carpentier, Managing Partner at Mitiska REIM, talked to Property Forum about the current state of affairs in the Polish investment market, recent activities of Mitiska in CEE countries and the rising attractiveness of the retail park sector.

According to a recent report published by Newmark Polska, total office take-up in 2023 in the largest Polish regional cities surpassed 741,300 sqm - an increase of almost 19% year-on-year and 7% from the pre-pandemic 2019 peak. Meanwhile, issues related to ESG, functionality improvements, efficient office space management and optimisation of lease costs have filtered through into the vocabulary and strategies of tenants and developers alike.

Panattoni has launched work on another project for the retail sector. A distribution centre is to be built in Szczecin with an area of around 54,500 sqm where up to 500 people are going to be employed. The development will be certified under BREEAM for a rating of Outstanding.

The volume of vacant office space in Warsaw is shrinking as the number of office buildings under construction and delivered to the market is low and occupier demand remains stable, reveals BNP Real Estate Poland in its quarterly report. Meanwhile, older office buildings are undergoing refurbishment as approximately 70% of existing stock is energy inefficient.

Focus Estate Fund has finalized the purchase of the Galeria Sandecja shopping centre in Nowy Sącz, Poland. With a total area (GLA) of 17,650 sqm, this is the seventh investment for the fund in the Polish retail sector. The seller of the property, TK Development was represented by Colliers International, while the buy side was backed by Czabański & Gałuszyński, Gleeds and KKLW. The price has not been disclosed. 

GLP has begun construction of a new 38,000 sqm warehouse near the eastern border of Warsaw, close to the A2 motorway junction. The development will contribute to a reduction in CO2 emissions through the implementation of heat pumps, enhanced insulation, and smart metering.